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Unsecured loan from individual stranger to company

Rahul Kumar (21 Points)

30 September 2019

is a private limited co. can take unsecured loan from individual stranger who is unknown to company

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Jatin Bajaj (CS) (2930 Points)
Replied 01 October 2019

Yes, Private Company can accept the deposits from the third party individual but has to comply with the provisions of deposits as per the provisions of Companies Act 2013. If the Company fails to comply with the provisions of deposits as per the Companies Act 2013, Company shall be liable for penalty and prosecution under the provisions of section 76 A of the Companies Act 2013.